de | cn | ru

Cryptonex Review - is it scam or safe?

Cryptonex Review - is cryptonex.org scam or good cryptocurrency exchange?

RATING: 2.5 / 0 REVIEWS Cryptonex

RECOMMENDED BITCOIN BROKERS


 

Trading Accounts & Conditions

 

 

Account type

Leverage

Trading fee

Withdrawal Fees

Standrd

N/A

0.10%

0.001 BTC / 2,00 % fiat

 

Cryptonex is a cryptocurrency platform for trading in the coin with the same name, Cryptonex (CNX). Its users can exchange it for fiat currencies or other digital assets (and vice versa).

 

As it is usually the case with exchanges that work with traditional money, users who wish to deposit or withdraw in fiat currencies, should go through a simple KYC/AML procedure (ID verification).



Cryptonex Advantages

 

Many fiat currencies supported

This platform works with a number of fiat currencies. More specifically, its users are able to deposit and withdraw USD, EUR, GBP, BRL, and RUB via e-payment systems Advcash, PerfectMoney, and Payeer.

 

No fees on deposits, low trading fees

Trading at Cryptonex is comparatively low-cost. All trades on the platform are charged 0.10%, while the fees at most exchanges are within the range of 0.20% - 0.25%.

 

In addition, all deposits to Cryptonex, including those in fiat, are free of charge.

 

Nice trading platform

Cryptonex offers an all-in-one solution: wallet and trading platform, available as web, desktop versions, as well as mobile applications. It is nicely designed, with simple charting. Here is a snapshot of Cryptonex’s web platform:

 

 

As you can see from the image above, P2P service also available.

 

Easy P-o-S mining option

Users of Cryptonex have another option to get some extra income. It is called P-o-S mining and does not require any mining hardware. It’s enough to buy CNX, transfer it to the Cryptonex wallet on your PC and keep it online. The company promises an annual profit of 12% + bonus rewards.

 

P2P service

In April 2018 the company launched Peer-to-Peer service , so its users can now buy and sell cryptocurrencies between themselves, where Cryptonex is the transaction guarantor. 

 

 

Cryptonex Disadvantages

 

Trading only against CNX

This is an exchange where CNX is the base currency, and the rest coins are traded against it. If you wish to exchange BTC for ETH for example, you cannot do that on Cryptonex, although both coins are listed.

 

Limited payment methods

Cryptonex supports only several payment methods, which are not very popular outside Russia: Advcash, PerfectMoney, and Payeer. Convenient ways to transfer money, such as bank wire transfer or credit cards, are not supported by this exchange, which is definitely a disadvantage.

 

Only 3 coins listed

Cryptonex is the premier trading platform for CNX coin, and apart from it, it has listed only BTC and ETH. Although many exchanges that work with fiat only offer trading in Bitcoin, such coin offering is rather limited.

 

No leverage

Cryptonex does not offer leveraged trading, which is actually the situation with most cryptocurrency exchanges. If you need some leverage, you can either register with an exchange that offers margin trading, or with a forex broker that offers leveraged trading in crypto CFDs.

 

 

>> Forex brokers offering margin Bitcoin trading <<

 

 

Withdrawal fees, minimum withdrawal limits

Deposits to Cryptonex are free, but withdrawals, from the platform incur fees, which are not that insignificant. Besides, there are certain withdrawal minimums set for digital assets, which is not a major flaw, but it still can be inconvenient for some users. Here are the details:

 

Asset

Withdrawa fee

Min. Withdrawal

CNX

Free

0.001 CNX

Bitcoin

0.001 BTC

0.002 BTC

Ethereum

0.001 ETH

0.002 ETH

USD, EUR, GBP, BRL, RUB

2.00%

N/A

 

No information about the storage of assets

The Cryptonex website does not provide any information about the manner in which the clients’ assets are stored. This is definitely a major flaw, as users have the right to know whether their coins and money are safe. Many exchanges get hacked.

 

 

Conclusion

 

Cryptonex is a crypto-exchange and wallet service that obviously places a focus on the CNX coin and fiat currencies. It offers a nice platform, available in all forms and shapes possible, and has low trading fees. P2P service is also available, as well as a an easy P-o-S mining option.

 

Although Cryptonex works with a plethora of fiat currencies, the payment methods it uses are not very convenient. Besides, it offers trading in 3 coins only, and there is only one base currency – CNX.

 

Another thing that bothers us most regarding Cryptonex is the fact that there is no information about the storage of clients’ assets. All major exchanges keep them in cold storage for security reasons.

 

Cryptonex is operated by Cryptonex LP, a company based and registered in the UK. Nonetheless, it seems that the people behind this project originate from Russian-speaking countries (considering the payment methods used and the fact that some features in the platform are available in Russian only).

 

Like most exchanges worldwide, Cryptonex is not regulated. In case you are looking for a safer way to trade Bitcoin, forex brokers might be a good alternative, as many of them are duly regulated in the countries they operate.

 


>>Regulated brokers offering crypto-trading<<

 

 

Here are the strong and weak sides about this exchange:

 

Pros

Cons

Many fiat currencies supported

Trading only against CNX

No fees on deposits, low trading fees

Limited payment methods

Nice trading platform

Only 3 coins listed

P-o-S mining option

No leverage

 

Withdrawal fees, minimum withdrawal limits

 

No information about the storage of assets

 

Latest news about Cryptonex
No news about Cryptonex. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK, Bulgaria FCA, FSC Web €29 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

Traders` reviews for Cryptonex

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru